Grow Your People

On the top of almost every company’s mind right now is employee retention. Still in the midst of The Great Resignation, and in the wake of a stormy hiring climate, how can a company keep its current employees happy and eager to stay aboard?

According to the LinkedIn 2020 Workplace Learning Report, 94% of employees would stay with a company longer if it invested in their professional development. Organizations that prioritize their people’s growth by offering learning opportunities and clearly communicating pathways for advancement will reap the benefits in more ways than one.?

Learning Opportunities

That same LinkedIn Report predicts an “upskilling and reskilling revolution” in the next 3-5 years. As technology advancements and global trends shift rapidly, the need for new skills emerges, and Learning & Development (L&D) professionals believe closing skills gaps is a top priority. Your staff will not only be able to keep pace with the anticipated challenges ahead but also be ready to tackle future challenges as they reveal themselves.?

There are a variety of methods to address career development: mentoring and coaching, cross-departmental training and job shadowing, in-house eLearning courses and certifications, and college and university partnerships. Multiple routes may make sense for your business as long as your staff has opportunities to learn new, applicable skills and feel they are encouraged to pursue them.?

In addition to on-the-job skills, employers should offer opportunities for workers to develop soft skills, such as communication, time management, teamwork, and critical thinking. Cultivating these personality traits and work habits is just as critical to your team’s productivity and success as teaching technical skills.?

Transparent Advancement?

Glassdoor defines a transparent workplace as "an organization that operates in a way that creates openness between managers and employees." Now more than ever, job candidates want to know an organization's mission, values, and growth plans almost as much as they want to know salary and benefits, and current employees are no different.?

Defining and clearly communicating a skills-based pathway for employees to move from entry-level to higher-wage roles is critical to establishing a culture of transparency and an invested workforce. Employees who know about and are encouraged to work toward advancement within the organization are more likely to remain loyal.

Countless Benefits

Investing in L&D is a smart business choice. An effective employee development program mitigates turnover as employees report higher levels of job satisfaction and employee engagement, which are considered top factors for employee retention, when their companies invest in them. Increased technical and soft skills will improve productivity and help you remain competitive in the market. Your company culture will strengthen alongside your employees’ skills as a place that values and believes in its staff.?

As April is Celebrate Diversity Month, we can’t ignore the impact L&D and advancement transparency will have on your diversity, equity, and inclusion (DEI) initiatives as well. Countless research studies reveal the tremendous benefits of a diverse and inclusive workplace. By focusing your efforts on developing and promoting your current diverse employees, your organization will benefit from greater innovation, problem-solving, productivity, and collaboration.

Give your employees room to grow, and they won’t abandon ship.